Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $35.86.

A number of brokerages recently issued reports on TNDM. Morgan Stanley lowered shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Mizuho began coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price on the stock. Piper Sandler dropped their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group boosted their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after purchasing an additional 535 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after purchasing an additional 1,101 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Tandem Diabetes Care in the 1st quarter worth about $37,000.

Tandem Diabetes Care Trading Down 6.8%

NASDAQ:TNDM opened at $19.83 on Friday. Tandem Diabetes Care has a 12 month low of $15.75 and a 12 month high of $53.69. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -10.27 and a beta of 1.47. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $19.44 and its 200-day moving average is $27.12.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. During the same period in the prior year, the business earned ($0.65) EPS. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.